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I would say Bitcoin doesn't even need to meet the definition of money in terms of medium of exchange or unit of account.
My opinion is that Bitcoin would be valuable even solely as a store of value definition of money.
However, I do think that Bitcoin will become a medium of exchange once the price stabilises after the price discovery phase when that occurs.
If Blackrock and other ETFs are approved and we see inflow of capital into BTC ETFs, assuming 1-to-1 holding requirement for 1 BTC ETF with 1 BTC actual coin, I think BTC could get to $200k ceteris paribus.
My opinion is that Bitcoin would be valuable even solely as a store of value definition of money.
However, I do think that Bitcoin will become a medium of exchange once the price stabilises after the price discovery phase when that occurs.
If Blackrock and other ETFs are approved and we see inflow of capital into BTC ETFs, assuming 1-to-1 holding requirement for 1 BTC ETF with 1 BTC actual coin, I think BTC could get to $200k ceteris paribus.
All the reasons why Bitcoin reigns supreme over real estate:
https://www.youtube.com/watch?v=mP0f2s39GDs
⭐ Merited by Who is John Galt? (1)
Would it make sense to think of Bitcoin as a money or value protocol in a similar way to other protocols for data (TCP/IP), STMP, POP3, etc?
It seems to me that from a technical point of view, these are different things. When you talk about data transfer protocols, you can use them to transfer virtually any data, they only determine the format of their transfer.
You cannot transfer arbitrary money or assets through the bitcoin system. For example, if you want to transfer British Pounds, you first need to find someone willing to exchange their Bitcoins for your British Pounds at the sending location, and then someone else willing to exchange your Bitcoins for their British Pounds at the receiving location. It is impossible to do this automatically only with the functionality embedded in bitcoin.
Thus, bitcoin, of course, allows you to transfer money, but according to certain rules and in fact only bitcoins. Even if we take into account the controversial technology of Ordinals, they also allow you to operate only with certain data, you cannot transfer a random asset with their help.
Yes, I agree that you cannot transfer arbitrary money or assets through the Bitcoin system. The only way one can transfer value through the Bitcoin system is via Bitcoin. Hence my thinking is that Bitcoin is the only truly decentralized internet money protocol, and that transfer of value through this protocol can only occur via Bitcoin, whereby Bitcoin acts as the transfer medium for the protocol, say similar to data packets for TCP/IP.
I also agree that comparing data transfer protocols with the Bitcoin protocol is technically different things. Here my thought is that there hasn't really been any money protocol for the internet until Bitcoin and hence it would be difficult to compare existing data protocols with the Bitcoin protocol.
Would it make sense to think of Bitcoin as a money or value protocol in a similar way to other protocols for data (TCP/IP), STMP, POP3, etc?
If so, does it then make sense to build use-cases on top of this robust and secure protocol, such as the lightning network or other networks and applications on top of it?
If so, does it then make sense to build use-cases on top of this robust and secure protocol, such as the lightning network or other networks and applications on top of it?
hoping it gets to $0.75 - $1 on next big runup.
anything could happen @ that area...i think lots of fast exits...but due to the amount of gd news @ the same time...i think...
ithink...alot of fast entries too
i think.....lol seriously...we could zoom up to $1.40cents if everything goes + for next month or two
(im still expect a huge BOE announcement by end of Aug 2017...if they say yes...and all banks are onboard..
then if they want crypto...for business and pleasure lol...they will choose XRP, just like we have..due to the fastest speed and cheapest cost in crypto today
along with all the kyc,aml, regulation..and other use cases all work towards XRP Ripples benefit
Ripple will be the new swift, doing the same thing, but cheaper,faster and far far more secure...not only for fiat (paypal gateways i hear) ...but all gd crypto too ( btc,eth,dash,ltc already got/getting gateways)
XRP will shine on the new system
ps..some were wondering why im staying in XRP more than btc now...
well apart from what i said earlier today...
i used to sleep in btc for yrs...from the cap being under $1bill to cap being $5bill around a yr ago...and i wouldnt sweat , id be happy
now XRP is sitting comfortbly @ $10bill...and was alot higher and will go alot higher...
so if i can stay in btc @ under $5bill for yrs , i defo can be happy in XRP @ $10bill+ for yrs ...get what i mean lol
we going towards $30bill soon i think
I'm hoping there will be some more news about Ripple soon.. e.g. new banks joining, etc. That would be helpful in triggering a bull run.
So considering anyone with a glass half empty view is a troll and is uneducated, maybe the people that have been asking why banks havent bought big on XRP should read this. Written by someone that is educated and has done research and will offer far more evidence then the hyping cocks on here. He also wrote an article on what other coins can learn from Ripple and their protocol so he is quite fond of Ripple but is a realest in the below article, which is refreshing
https://bravenewcoin.com/news/counterarguments-to-ripples-value-preposition/
'In Ripple, you can transact purely in IOUs all day every day without touching XRPs for anything else than the fees.'
'if everyone agreed to use XRPs as the common currency, you would only need to make one market per currency - between that currency and XRP.'
'Just because someone can receive XRPs, doesn't mean they'll want to settle in XRPs.'
'XRPs might be a decent universal currency for people that want to hold XRPs, but that might not be ideal for banks or big institutions. That's why we see networks like Corda, or even Interledger Protocol (also developed by Ripple) that don't rely on a native cryptocurrency gain traction,'
'If you are going to see real-world use cases being deployed on Ripple, it will be more likely to see them leveraging the existing FX markets rather than going through XRPs.'
'While XRPs have no counterparty risk, they also have no counterparty protection. If anyone steals your XRPs, they are gone. With IOUs, you can still appeal to the issuing gateway to halt the transaction and potentially track down where it was withdrawn to. The IOUs are thus much less of a target.'
'On a similar note, XRPs are much harder to track, which would make them less appealing from a compliance standpoint.'
'If a value of a given currency changes in value, you only need to adjust the market using that currency. If XRPs were the universal currency against which all of the currencies would be traded, any time the value of XRPs would fluctuate, you'd have to adjust the entire market.'
'XRPs have no transfer fees attached to them. While is possible for a gateway to issue IOUs without transaction fees (that's essentially Tether's business model, but on another network), perhaps even leveraging some other big crypto like Bitcoin or Ethereum through voting pools, the fees on those IOUs can always be changed. It seems that the network standard for transfer fees is about 0.2%, which seems to be smaller than the spread on XRP's biggest market (at the time of writing, 0.00015086 sell, 0.00015003 buy, giving about 0.55% spread). So it is possible that sending money through a very liquid FX market you would pay less in transfer fees than going through a less liquid XRP market on just the spread.'
'So this leaves XRPs with their primary role - paying transaction fees and fulfilling the needed reserves. All in all, about 50-100 XRPs per person / account would be enough for a lifetime of usage. That used to be less than 1 USD, and now is about 35 USD.'
Let me guess this guy hasnt done his research and its just FUD and you keyboard warriors know more? Lets see how quick real facts that we have been able to backup, as opposed to your SPECULATION gets pushed back pages so noone can find it.
Oh more days down and more downward movement, dam its going to be a quick boom to get 20bill market cap....or was it MINUS 20 bill lol
https://bravenewcoin.com/news/counterarguments-to-ripples-value-preposition/
'In Ripple, you can transact purely in IOUs all day every day without touching XRPs for anything else than the fees.'
'if everyone agreed to use XRPs as the common currency, you would only need to make one market per currency - between that currency and XRP.'
'Just because someone can receive XRPs, doesn't mean they'll want to settle in XRPs.'
'XRPs might be a decent universal currency for people that want to hold XRPs, but that might not be ideal for banks or big institutions. That's why we see networks like Corda, or even Interledger Protocol (also developed by Ripple) that don't rely on a native cryptocurrency gain traction,'
'If you are going to see real-world use cases being deployed on Ripple, it will be more likely to see them leveraging the existing FX markets rather than going through XRPs.'
'While XRPs have no counterparty risk, they also have no counterparty protection. If anyone steals your XRPs, they are gone. With IOUs, you can still appeal to the issuing gateway to halt the transaction and potentially track down where it was withdrawn to. The IOUs are thus much less of a target.'
'On a similar note, XRPs are much harder to track, which would make them less appealing from a compliance standpoint.'
'If a value of a given currency changes in value, you only need to adjust the market using that currency. If XRPs were the universal currency against which all of the currencies would be traded, any time the value of XRPs would fluctuate, you'd have to adjust the entire market.'
'XRPs have no transfer fees attached to them. While is possible for a gateway to issue IOUs without transaction fees (that's essentially Tether's business model, but on another network), perhaps even leveraging some other big crypto like Bitcoin or Ethereum through voting pools, the fees on those IOUs can always be changed. It seems that the network standard for transfer fees is about 0.2%, which seems to be smaller than the spread on XRP's biggest market (at the time of writing, 0.00015086 sell, 0.00015003 buy, giving about 0.55% spread). So it is possible that sending money through a very liquid FX market you would pay less in transfer fees than going through a less liquid XRP market on just the spread.'
'So this leaves XRPs with their primary role - paying transaction fees and fulfilling the needed reserves. All in all, about 50-100 XRPs per person / account would be enough for a lifetime of usage. That used to be less than 1 USD, and now is about 35 USD.'
Let me guess this guy hasnt done his research and its just FUD and you keyboard warriors know more? Lets see how quick real facts that we have been able to backup, as opposed to your SPECULATION gets pushed back pages so noone can find it.
Oh more days down and more downward movement, dam its going to be a quick boom to get 20bill market cap....or was it MINUS 20 bill lol
If banks let me store my XRP then I have counterparty protection because if they lose it they have to pay me back. Just like the money in my bank account.
Not all of what this guy has said is true although he thinks he knows his stuff.
how to spot a troll in 3 easy steps
1- noobie account, but thinks they know everything
2- talks alot
3- doesnt listen
1- noobie account, but thinks they know everything
2- talks alot
3- doesnt listen
Everyone starts somewhere on these forums. Calling me a troll doesn't negate the concerns about XRP.
wrong, you have been here before...you dont just create a new account to come bashing a coin...we are not that stupid m8..
also i asked a simple question 3 times...nothing near as complex or stupid as your questions...
ill try for the last time...
AGAIN...nothing personal...but why the noobie account to come here and post nothing but negativity on a coin you seem to know about but dont want to buy?
I've been a long time lurker, just blown away by all the XRP hype so I wanted to put my 2 cents in the pot. Too many noobs think XRP is going to make them rich, like bought 10,000 ETH at $0.80 rich, so I had to chime in. Math just isn't there, supply just is way too much and the creators still own 60%+.
How about you show us your math? Maybe 5-10 clear distinct steps of your logic and supporting arguments around what value you would place on XRP and why?
1) Banks will use Ripple tech not actual XRP.
2) The XRP that is destroyed by transactions is not enough to significantly reduce circulation in the foreseeable future considering that 1,000,000 transactions would only cost 10 XRP.
3) For XRP to hit $1 total XRP market cap would need to be $38B-$100B depending on total circulation at the time. For a $10 valuation that would need $380B-$1T total XRP market cap. Let's give XRP the benefit of the doubt and say it captures 25% of the total crypto market cap (all coins). That would mean a $10 per token value would need to be in a $1.5T to $4T total market cap scenario. That scenario would need BTC north of $100k per token. While I do believe that BTC has the potential to reach that number and even higher I think we are still a ways off.
4) Ripple currently controls 62% of tokens of which 54B will be locked up for the next year then start dumping on the market 1B at a time. During this time they still have 8B which is 17% of total unlocked up tokens to manipulate the market with.
5) Previous articles hinted that Ripple was going to retain 50B permanently, now they have a contract to release them.
6) Today it looks like it's on a warpath downward just like it did the last time it spiked then spent 2 years trying to find a bottom while loosing 95% of its value.
I am not saying that XRP won't go up in value but I hear a lot of people with the idea that it will be up there with ETH. It won't. It may hit around $1 this year or early next but as soon as the contracts start to release 1B on the market every month that will drop the price significantly and keep it at or below $1 for a very very long time. It also may just stay in a price range between $.2 and $.4.
1.) Link on where explicitly told that bank will use only Ripple? Nah, you do not have one.
2.) Are you aware of how many transactions are happening in the world, or ho many is planned for a ripple?
3.) Have to applause you are very first troll to include 38B as market cap for XRP to be $1. Though you do not realize that XRP does not give a shit about BTC, its exchanges that tight XRP to BTC, it will change soon, very soon.
4.) Can you imagine, when it was 54B they reached 0.42c per XRP, what will happen when they have 8B? 3 USD? Oh no, it does come together with your stupid market cap tightening via BTC and other carp
5.) Even dunno what this thing about
6.) Last time it hit 7700 satoshi than went to 3500 and than for a month was going down to 2500, trolls were having happy days, guess what happened? I know your stupid head will not manage to guess! But try hard!
I am surprised on how man without modelling possible circulation and contracts and etc. can predict price that can go against his calculations on Market Capacity. Troll that wanted to be smart, end of the story.
P.S. here is another joke like you, never gives up: https://www.xrpchat.com/topic/5543-we-are-on-the-downtrend-again/
Story from other end of cryptoworld, when XRP reached first time 50USD and than retraced to 35-45USD, trolls were committing suicide for a prove that it is a one huge bubble. Now ETH is > 200 USD, why? Nah, troll does not understand that.
It's on their website. They are pushing ILP and Ripple Connect as a product to banks not XRP and I can't understand half the shit you write.
Could you give us the website link you are talking about? I'm specifically looking for an explicit statement that says banks will not use XRP. By the way, do you mean Japanese banks, other banks, or all banks in the world?
Your math assumes that 1) is true. So please help validate it.
I am yet to come across any credible evidence that banks will not use XRP at all. Many people have mentioned this but I am yet to see some concrete evidence.
Ripple has gotten widespread usage so its not a direct scam, but indirectly it is and here's why:
1. Its pre-mined which only profits the company ripple
2. Its being hyped up as used by banks when in fact the banks are only using the blockchain and not the currency
3. Its not a real crypto, its based on a more or less centralized verification system
1. Its pre-mined which only profits the company ripple
2. Its being hyped up as used by banks when in fact the banks are only using the blockchain and not the currency
3. Its not a real crypto, its based on a more or less centralized verification system
So which other coin do you think then will allow for quick under 5 seconds transfers, secure, accepted by financial regulation? And why?
I came back after a few bad weeks with the ripple and now I still see the value of the ripple is very bad, it still continues to decline and I still have not seen any sign of the rise again. What is happening here? I always thought the price of bitcoin dropped will help altcoin prices rise again, but the truth is bitcoin down but the price of ripple is still down, even worse when the price of Bitcoin increase a few weeks ago. Many people say ripple is a scam coin, it will soon return to its true value, I'm always skeptical of this but now I think it is true.
"Value of Ripple is bad" <- how do you define what bad is? you mean it's bad because the price hasn't yet risen significantly? You have no idea how to validate your premise. You have no concrete evidence that the value of Ripple is bad.
"I always thought the price of bitcoin dropped will help altcoin prices again" <- So do you think there is definitely an inverse correlation between Bitcoin and Ripple prices?
"Many people say ripple is a scam coin" <- Who did, where? Which link/forum? and Why? Are there any good reasons why it's been said to be a scam coin? Can you justify?
IMO price is being manipulated... current price is used to accumulate large positions without affecting price over a longer period. When bags are full price will pump again.
Do you mean someone is buying and selling at low prices and slowly accumulating large number of XRPs while maintaining the current price?
I came back after a few bad weeks with the ripple and now I still see the value of the ripple is very bad, it still continues to decline and I still have not seen any sign of the rise again. What is happening here? I always thought the price of bitcoin dropped will help altcoin prices rise again, but the truth is bitcoin down but the price of ripple is still down, even worse when the price of Bitcoin increase a few weeks ago. Many people say ripple is a scam coin, it will soon return to its true value, I'm always skeptical of this but now I think it is true.
"Value of Ripple is bad" <- how do you define what bad is? you mean it's bad because the price hasn't yet risen significantly? You have no idea how to validate your premise. You have no concrete evidence that the value of Ripple is bad.
"I always thought the price of bitcoin dropped will help altcoin prices again" <- So do you think there is definitely an inverse correlation between Bitcoin and Ripple prices?
"Many people say ripple is a scam coin" <- Who did, where? Which link/forum? and Why? Are there any good reasons why it's been said to be a scam coin? Can you justify?
https://www.creditbit.org <- and this is your site? Man... are you sure your own site is not a scam?
I came back after a few bad weeks with the ripple and now I still see the value of the ripple is very bad, it still continues to decline and I still have not seen any sign of the rise again. What is happening here? I always thought the price of bitcoin dropped will help altcoin prices rise again, but the truth is bitcoin down but the price of ripple is still down, even worse when the price of Bitcoin increase a few weeks ago. Many people say ripple is a scam coin, it will soon return to its true value, I'm always skeptical of this but now I think it is true.
Can you please go read this and come back?
https://www.xrpchat.com/links/
how to spot a troll in 3 easy steps
1- noobie account, but thinks they know everything
2- talks alot
3- doesnt listen
1- noobie account, but thinks they know everything
2- talks alot
3- doesnt listen
Everyone starts somewhere on these forums. Calling me a troll doesn't negate the concerns about XRP.
wrong, you have been here before...you dont just create a new account to come bashing a coin...we are not that stupid m8..
also i asked a simple question 3 times...nothing near as complex or stupid as your questions...
ill try for the last time...
AGAIN...nothing personal...but why the noobie account to come here and post nothing but negativity on a coin you seem to know about but dont want to buy?
I've been a long time lurker, just blown away by all the XRP hype so I wanted to put my 2 cents in the pot. Too many noobs think XRP is going to make them rich, like bought 10,000 ETH at $0.80 rich, so I had to chime in. Math just isn't there, supply just is way too much and the creators still own 60%+.
How about you show us your math? Maybe 5-10 clear distinct steps of your logic and supporting arguments around what value you would place on XRP and why?
Just in case someone hasn't seen this:
https://www.youtube.com/watch?v=otERf5Nn9e8
Don't forget to click "CC" button for English subtitles.
More and more companies allowing trading of XRP. Here is another one from the Philippines:
http://www.livebitcoinnews.com/satoshi-citadel-industries-will-integrate-xrp-remittance-mobile-money-services/
daaaamnnnn
may need to delay left for time being...
i just saw this a few min ago
https://www.reddit.com/r/Ripple/new/
https://ca.investing.com/news/stock-market-news/bank-of-canada-says-won't-use-blockchain-for-interbank-payment-system-126381
By Solarina Ho
TORONTO, May 25 (Reuters) - The Bank of Canada said on Thursday that its experiment with blockchain, or distributed ledger technology, showed it is currently not compatible with operating the country's centralized interbank payment systems.
The Bank's conclusion, published in a column in The Globe and Mail newspaper, comes after a year-long experiment in partnership with Payments Canada, which is responsible for the country's clearing and settlement infrastructure, and Canada's largest banks.
"The bottom line is that a stand-alone DLT wholesale system is unlikely to match the efficiency and net benefits of a centralized system," wrote Carolyn Wilkins, senior deputy governor of the Bank of Canada, and Gerry Gaetz, Payments Canada president.
"At its heart, there exists a fundamental inconsistency or tension between a centralized wholesale interbank payment system, as we have now, and the decentralization inherent in DLT."
Payments Canada clears a daily average of more than C$175 billion ($130.42 billion) through the wholesale interbank payment system, which is overseen by the Bank of Canada.
Blockchain, the technology that underpins digital currencies such as bitcoin, is a distributed record of data or transactions maintained by a network of computers without the need for approval from a central authority.
this isnt the end...its just one bank saying they wont use blockchain for time being...
again research and decide your next move carefully guys...
hopefully some good news will come aswell
may need to delay left for time being...
i just saw this a few min ago
https://www.reddit.com/r/Ripple/new/
https://ca.investing.com/news/stock-market-news/bank-of-canada-says-won't-use-blockchain-for-interbank-payment-system-126381
By Solarina Ho
TORONTO, May 25 (Reuters) - The Bank of Canada said on Thursday that its experiment with blockchain, or distributed ledger technology, showed it is currently not compatible with operating the country's centralized interbank payment systems.
The Bank's conclusion, published in a column in The Globe and Mail newspaper, comes after a year-long experiment in partnership with Payments Canada, which is responsible for the country's clearing and settlement infrastructure, and Canada's largest banks.
"The bottom line is that a stand-alone DLT wholesale system is unlikely to match the efficiency and net benefits of a centralized system," wrote Carolyn Wilkins, senior deputy governor of the Bank of Canada, and Gerry Gaetz, Payments Canada president.
"At its heart, there exists a fundamental inconsistency or tension between a centralized wholesale interbank payment system, as we have now, and the decentralization inherent in DLT."
Payments Canada clears a daily average of more than C$175 billion ($130.42 billion) through the wholesale interbank payment system, which is overseen by the Bank of Canada.
Blockchain, the technology that underpins digital currencies such as bitcoin, is a distributed record of data or transactions maintained by a network of computers without the need for approval from a central authority.
this isnt the end...its just one bank saying they wont use blockchain for time being...
again research and decide your next move carefully guys...
hopefully some good news will come aswell
If you're Canadian you know this is how typical Canadian government runs. Nothing not even life-saving medications are approved first go around with Canadian governments.
The Bank Of Canada is also the center of a lot of controversy and like most Canadian government organization they're very slow and behind the times always.
Guaranteed they will adopt it at one point. This is always how it works here. Not at all a shocker to me. I'm sure they let everyone know by telegraph too.
Thanks for the insight for those who have not been to or does not know much about the Canadian way of doing things. This is really helpful.
I was kind of asking the question in the back of my head: How come Japan says it can work but Canada says it can't.. surely it would be possible for Canada too..
daaaamnnnn
may need to delay left for time being...
i just saw this a few min ago
https://www.reddit.com/r/Ripple/new/
https://ca.investing.com/news/stock-market-news/bank-of-canada-says-won't-use-blockchain-for-interbank-payment-system-126381
By Solarina Ho
TORONTO, May 25 (Reuters) - The Bank of Canada said on Thursday that its experiment with blockchain, or distributed ledger technology, showed it is currently not compatible with operating the country's centralized interbank payment systems.
The Bank's conclusion, published in a column in The Globe and Mail newspaper, comes after a year-long experiment in partnership with Payments Canada, which is responsible for the country's clearing and settlement infrastructure, and Canada's largest banks.
"The bottom line is that a stand-alone DLT wholesale system is unlikely to match the efficiency and net benefits of a centralized system," wrote Carolyn Wilkins, senior deputy governor of the Bank of Canada, and Gerry Gaetz, Payments Canada president.
"At its heart, there exists a fundamental inconsistency or tension between a centralized wholesale interbank payment system, as we have now, and the decentralization inherent in DLT."
Payments Canada clears a daily average of more than C$175 billion ($130.42 billion) through the wholesale interbank payment system, which is overseen by the Bank of Canada.
Blockchain, the technology that underpins digital currencies such as bitcoin, is a distributed record of data or transactions maintained by a network of computers without the need for approval from a central authority.
this isnt the end...its just one bank saying they wont use blockchain for time being...
again research and decide your next move carefully guys...
hopefully some good news will come aswell
may need to delay left for time being...
i just saw this a few min ago
https://www.reddit.com/r/Ripple/new/
https://ca.investing.com/news/stock-market-news/bank-of-canada-says-won't-use-blockchain-for-interbank-payment-system-126381
By Solarina Ho
TORONTO, May 25 (Reuters) - The Bank of Canada said on Thursday that its experiment with blockchain, or distributed ledger technology, showed it is currently not compatible with operating the country's centralized interbank payment systems.
The Bank's conclusion, published in a column in The Globe and Mail newspaper, comes after a year-long experiment in partnership with Payments Canada, which is responsible for the country's clearing and settlement infrastructure, and Canada's largest banks.
"The bottom line is that a stand-alone DLT wholesale system is unlikely to match the efficiency and net benefits of a centralized system," wrote Carolyn Wilkins, senior deputy governor of the Bank of Canada, and Gerry Gaetz, Payments Canada president.
"At its heart, there exists a fundamental inconsistency or tension between a centralized wholesale interbank payment system, as we have now, and the decentralization inherent in DLT."
Payments Canada clears a daily average of more than C$175 billion ($130.42 billion) through the wholesale interbank payment system, which is overseen by the Bank of Canada.
Blockchain, the technology that underpins digital currencies such as bitcoin, is a distributed record of data or transactions maintained by a network of computers without the need for approval from a central authority.
this isnt the end...its just one bank saying they wont use blockchain for time being...
again research and decide your next move carefully guys...
hopefully some good news will come aswell
This is huge. They do a 1/4 Trillion dollars of money PER DAY. This is the BANK OF CANADA. This is basically a country trying the technology and saying NO. NOT GOOD. SELL SELL SELL SELL
How long does it take to send and receive money from Canada to say Malaysia and vice-versa?
If it takes longer than 5 seconds, the need will still be there that XRP can solve.
Also, although it will be nice to have banks' support, there is also the general population that can use XRP without banks. So demand for XRP will still be there.
If your logic of a bank not accepting the technology (yet) is a call to sell, then you should sell all your other cryptocurrency holdings as well for the same reason.
i dont own any XRP but im interested to buy some now. Im ok to hold long terme 2 years + if necessary.
what do you think the value of the coin will be in 1-2 years? realistically...
im thinking of buying 10 000 XRP tonight, is it a good time to buy?
what do you think the value of the coin will be in 1-2 years? realistically...
im thinking of buying 10 000 XRP tonight, is it a good time to buy?
If you are "ok to hold long term 2 years+" then adding xrp to your portfolio or trapper keeper over the next 6 months can be justified.
Others are ready to hodl for 5-10 years.
Just know there is a large group of people that bought xrp at $0.00666 for years and if you bought now it would be around $0.25. Thats pretty expensive to me.
If I were buying now, I'd be looking more to actually using XRP for settlement/cross-border payments/goods and services, not to sell for a native currency like others around here that have made millions of $$$ who have been in XRP from the beginning.
I'd still like to think that we are in the beginning stages. I mean, how many of our friends and family use XRP to transact? Almost none. So heaps of opportunities for growth in demand.
If supply is reasonably constant (which is the case for XRP with 55b XRP in smart contracts) then rise in demand means increase in price. This is Economics 101 Supply & Demand.
https://www.reddit.com/r/Ripple/comments/6d8jgb/free_download_woocommerce_ripple_payment_gateway/
4 hours ago by casperm
nice, very nice
4 hours ago by casperm
nice, very nice
It seems like something new. Could you kindly explain what this programme does? Thanks!!
Ah I see! That's great. I would love to pay in XRP! Currently I get charged too much by Paypal
If this continues, wouldn't billions of people use XRP as form of payment? and XRP is a threat to Paypal??
https://www.reddit.com/r/Ripple/comments/6d8jgb/free_download_woocommerce_ripple_payment_gateway/
4 hours ago by casperm
nice, very nice
4 hours ago by casperm
nice, very nice
It seems like something new. Could you kindly explain what this programme does? Thanks!!
I wouldnt care if it dumped all the way back to $.10. I'd just buy a shitload more and hold. When i got in I wasn't expecting to see any profits for a while. Ive been very pleasantly surprised by XRP and I'm sure it will continue to make me happy in the future. I always saw it as a long term investment.
bro, thats the reason it wont goto 20cents , or 30cents and soon 40, then 50 then $1+ loli think ,we all think like you
+ as time passes new people buy slighty higher than older buyers and are willing to pay more if it is cheaper than their entry price.
I agree and I predict $2 by the end of this year. XRP is up 12% since yesterday. We've seen $0.4+ already and I'm sure we will see it again pretty soon.
Also I think most people who bought under $0.05 sold their coins already so no major dump expected.
2 is not possible. Do you smoke crack ? If xrp is 2 by end of year it would mean the market cap with current supply would be 77 billion. For the moment total market cap is 72 billion.
Please be realistic. And were talking with current supply so if there is more supply it is definitly some crazy crack talk.
I think you should be realistic in your assessment of cryptocurrency value.
If you do some market research, you should know that it takes only 5-6 seconds to transfer money across different countries using XRP in a fully legal and regulated way with lower cost, whereas it currently takes 3-4 days in some countries to achieve the same with higher cost. In my opinion, this is almost analogous to moving from snail mail to email.
So what proportion of people would take up digital currency in the future? 10%? 20%? 50?
Well, lets assume a really small proportion by end of the year. Say 5%.
NYSE stock exchange alone has a market cap of 15 trillion US dollars. Here: https://www.fxcm.com/insights/new-york-stock-exchange-nyse/
5% of 15 trillion is 750 billion.
Now this obviously isn't the total market cap of the entire world..
If I add up your figures above, you estimated about 150 billion..
That's 1% of 15 trillion = 1% of NYSE market cap
1% of NYSE market cap < 1% of entire world market cap..
So you would only need less than 1% of the entire world by end of the year to take up cryptocurrency to get to your market value, or even if they don't, at least enough demand from less than 1% of the population to take up interest in digital currency.
Obviously these are all estimates, but can you see the magnitude of this and why some people here on the forum talk about holding XRP over the longer term?